Lecap Asset Management Ltd. Buys New Position in Cardinal Health, Inc. (NYSE:CAH)

Lecap Asset Management Ltd. purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 17,925 shares of the company's stock, valued at approximately $1,981,000.

Other institutional investors also recently added to or reduced their stakes in the company. Tobam grew its stake in shares of Cardinal Health by 773.4% in the first quarter. Tobam now owns 49,111 shares of the company's stock worth $5,496,000 after acquiring an additional 43,488 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Cardinal Health by 101.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company's stock worth $36,010,000 after purchasing an additional 161,656 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Cardinal Health by 5.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company's stock valued at $35,160,000 after buying an additional 15,663 shares during the last quarter. Alpha Cubed Investments LLC bought a new stake in shares of Cardinal Health in the third quarter valued at about $371,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Cardinal Health by 1.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company's stock worth $44,016,000 after buying an additional 6,752 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Down 0.1 %

Shares of Cardinal Health stock opened at $112.23 on Wednesday. The stock has a market capitalization of $27.34 billion, a price-to-earnings ratio of 49.88, a P/E/G ratio of 1.57 and a beta of 0.60. The firm's 50-day moving average price is $111.42 and its two-hundred day moving average price is $103.94. Cardinal Health, Inc. has a 1-year low of $90.19 and a 1-year high of $116.05.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same period in the prior year, the company earned $1.55 EPS. Cardinal Health's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.506 per share. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.80%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is currently 89.78%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Evercore ISI upped their price target on Cardinal Health from $105.00 to $115.00 and gave the company an "in-line" rating in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st. Robert W. Baird boosted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. Citigroup dropped their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a "neutral" rating for the company in a research note on Friday, July 19th. Finally, Wells Fargo & Company lifted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an "underweight" rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and an average target price of $120.18.

Insiders Place Their Bets

In other news, CFO Aaron E. Alt sold 2,323 shares of the company's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Aaron E. Alt sold 2,323 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 in the last 90 days. 0.15% of the stock is currently owned by insiders.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

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